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Continental Properties Acquires Two Trumbull Office Bldgs

Buyer Planning Ground-Up Development of 202-Unit Multifamily Property
January 30, 2018
Continental Properties, a New York-based real estate owner and developer, has purchased two office buildings located at 100 Oakview Dr. in Trumbull, CT for $4.5 million, or about $57 per square foot, from Canon Business Solutions.

The East and West buildings delivered in 1979 and total 78,692 square feet on 5.4 acres in Fairfield County. Canon USA previously housed its North American headquarters there.

The buildings will be razed to make way for a proposed 202-unit multifamily complex. A construction timeline were not immediately available, but plans call for a total of six buildings offering 83 one-bedroom and 119 two-bedroom units, according to public records.

Timothy McMahon and Richard Lee with O, R & L Commercial represented the seller, while Scott Gance of The Partners Commercial Real Estate Services represented the buyer.

Please see CoStar COMPS #4109021 for more information on this transaction.
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